Hong Kong's Stock Rebounds 2.7 Percent
Hong Kong (IBTimes.com)- Hong Kong shares rebounded 2.7 percent Thursday. The blue chip Hang Seng Index gained 664.13 points, or 2.72 percent, to 25,114.98, Turnover was 138 billion Hong Kong dollars (17.7 billion dollars).
Recovering half the losses of the previous day when the benchmark recorded its biggest one-day percentage fall since 2001, terrorists attacks.
"Sentiment is still fragile, but investors are rushing back to buy at dips now," Francis Lun, a general manager at Fulbright Securities, said.
Investors are still worried about the U.S. economy. But Morgan Stanley upgraded its Hong Kong market view to in-line from cautious, saying the index has fallen slightly below its current fair value.
Hong Kong's currency is linked to the greenback and its economy is sensitive to economy in the United States.
- 1 Nomura CEO seeks change with Lehman buy
- 2 CE Donald Tsang meets UK Prime Minister in London
- 3 Macaus hot streak shows signs of cooling
- 4 Financials drag on market; Dow falls more than 240
- 5 Drop in Stock Market Sends Traders to the Safety of the U.S. Dollar
- 6 Economy crisis in Zimbabwe: `If you rest, you starve
- 7 Indian navy sinks suspected pirate "mother" ship
- 1 HK typhoon alert No.1 issued
- 2 HSBC reports 1H fall in profit 29 percent
- 3 Bryant scores 19, helps US beat Russia in tuneup
- 4 Actor Morgan Freeman is injured in car accident
- 5 Jolie-Pitt baby twins photos online
- 6 Christina Applegate treated for breast cancer
- 7 Paris Hilton's mom takes offense at McCain's humor
|
- 1 Financials drag on market; Dow falls more than 240
- 2 Drop in Stock Market Sends Traders to the Safety of the U.S. Dollar
- 3 USD Recovers Footing
- 4 SKorean stocks rally despite Wall Street drop
- 5 Oil falls to 3-year low below $49 in Asia
- 6 Most Asian markets rebound after Wall Street rout
- 7 Japan stocks rise after losses earlier this week
|
|
